Top 5 Projects in Nigeria
Nigeria has more than $160 billion of projects currently under construction. The top 5 projects consist of three refineries and two railway projects with a combined estimated cost of $54 billion.
With more than 200 million people, Nigeria is the most populous country in Africa and, with a Gross Domestic Product (GDP) of close to $450 billion, the largest economy on the continent. That said, it only occupies the fifteenth position on GDP per capita rankings.
Developing infrastructure and creating jobs is a top priority for the Nigerian government. According to ABiQ Business Intelligence, there is more than $220 billion worth of active projects. $160 billion is under construction and a further $60 billion on the drawing board, of which $8 billion are in the tender stage.
The top 5 projects in Nigeria that are currently under construction include three refineries and two railway projects.
Dangote Refining is the developer of this $12 billion project, and the main contractor is Engineers India Limited. The lead financiers on the project are Standard Chartered Bank and Africa Finance Corporation.
The Azikel Oil Refinery is another $12 billion project developed by Azikel Petroleum Limited. It is a 12,000 barrel per day hydro skimming refinery with McDermott as the main contractor and the Export-Import Bank of India as one of the lead financiers.
The $11 billion Lagos to Calabar standard gauge line is more than 1,400 kilometres long and will connect Port-Harcourt to Calabar and have 22 stations. China Civil Engineering Construction Corporation is the main contractor, and The Export-Import Bank of China arranged the finance.
Developed over several phases and only phase 1 complete, the $6.6 billion 2,733-kilometre project has China Civil Engineering Construction Corporation as the main contractor. The Export-Import Bank of China provides most of the finance for the project.
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